December 17, 2015
In addition to wishing a happy holiday to all, please accept my thanks for your cooperation and hard work over the past year.
This will be your last year-end reconciliation with Employer Online Services (EOS), and when the new Employer Portal goes live on May 30th, it will make the year-end process (and a number of others) much simpler over the coming year.
Also, nothing is required of you before the end of 2015. We scheduled Go Live for May 30 so as to interfere as little as possible with your year-end activities.
Finally, the APS staff have also been working hard in preparation for Go Live, and I'm confident that the new project timeline will ensure a quality experience for employers and members. Our commitment to Go Live requires that:
- The system works on critical business processes from end-to-end.
- Employers are ready to use the new Employer Portal.
- Support systems are in place for employers after Go Live.
- March 25 - Go / No Go Quality checkpoint.
- April 4 - Employer training begins. Cutover and Transition begins.
- May 30 - Go Live.
- Member and employer contribution rates;
- Year's Maximum Pensionable Earnings (YMPE);
- Annual benefit limits; and
- Annual salary caps.
To that end, here are the key dates that will take us to the Employer Portal:
Be assured that we will provide resources and guidance through the process. But for now, you can focus on your year-end close and please enjoy your holidays.
Executive Director, APS Client Services
Important Figures for 2016
The Facts & Figures section of Pension e-guide has now been updated to reflect important information for 2016:
What has changed, and what will amounts you will begin using in 2016:
1. YMPE: $54,900.00
2. Salary Cap for each pension plan:
LAPP - $160,970.00
PSPP - $160,970.00
MEPP - $144, 500.00
SFPP - $160,970.00
3. The following tools were updated in Pension e-guides under admin:
2015 Pension Adjustment Tables; and
2016 Schedule of Deductions.
What is YMPE?
The Canada Pension Plan sets a maximum amount of earnings on which you can contribute to that plan. This maximum is called the Year's Maximum Pensionable Earnings.
What you need to do now:
Starting January 1, 2016, use this updated information to calculate contributions.
APS Holiday Hours
APS will be closed for the holidays from Thursday, December 24 to Tuesday, December 29. We are also closed Friday, January 1, 2016. Please let your employees know about our holiday hours, and remember that pension information and services are available at any time in e-guide.